RM450 Million Export Sales Recorded by Malaysian Exhibitors at Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC) 2023
6 OCTOBER, 2023, ABU DHABI: Malaysian exhibitors made a strong presence for their products and services at Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC), 2 – 5 October 2023. More than 400 business meetings were arranged by MATRADE which generated export sales worth RM450 million.
The products and services of interest included customised oil & gas equipment, manufacturing of high-quality ovens for welding electrodes and flux drying applications and in-house fabrication, integrity management, risk assessment and management, asset life extension study, software, Health, Safety, Security, and Environment (HSSE) system, Engineering, Procurement, and Construction (EPC) Project Management, scaffolding works, engineering services, pipe inspection, integrity management, and fabrication machining which underscore Malaysia’s capabilities and expertise in the oil & gas industry.
Contented with the outcome which was 28.6 percent higher than the targeted RM350 million, YBhg. Datuk Mohd Mustafa bin Abdul Aziz, Chief Executive Officer of MATRADE stated “This added significantly to Malaysia’s growing exports of oil & gas products to the region that saw almost a four-fold increase in 2022 to RM 2.41 billion to the UAE, as compared to the previous year. We thank all the Malaysian companies that participated in ADIPEC 2023 and look forward to more Malaysian exporters involvement in this region”.
The 20 Malaysian oil and gas companies that were present in Malaysian Pavilion, ADIPEC 2023 had shared the strong business interest they received including business leads from trade visitors. To enhance the visibility and market access opportunities for Malaysian companies and their counterparts in the region, business meetings were also arranged between the Malaysian exhibitors with several prominent oil and gas companies in the Middle East region including Abu Dhabi National Oil Company (ADNOC), and Saudi’s NESMA United Industries. At the same time, MATRADE also invited Petroleum Development Oman (PDO), the National Oil Company of Oman to share the opportunities in Oman and their vendor registration process with Malaysian companies to facilitate market penetration effort in the country.
UAE and the region offer tremendous opportunities for Malaysian companies as they continue to launch mega projects in both upstream and downstream sectors and invest heavily in clean energy and reduction of carbon footprint. Malaysian companies are in an advantageous position to offer cost-effective solutions. In this regard, YBhg. Datuk Mohd Mustafa further stated that Malaysian companies offering digital technologies for offshore and onshore solutions has a significant advantage for business expansion opportunities in the region.
Currently, Malaysian oil & gas companies are actively involved in projects in the Middle East region, with the highest concentration in the UAE, Saudi Arabia, Qatar, Oman, and Iraq. As such, MATRADE will endeavour to promote and deepen market access for Malaysian O&G companies in key markets in the region. “Apart from our participation in ADIPEC, we have also been supporting the Malaysian companies by linking them to National Oil Companies (NOCs) in the region so that they can expand their businesses and market share globally”, added YBhg. Datuk Mohd Mustafa.
MATRADE is Malaysia’s trade promotion agency and has 49 global offices in major cities around the world. MATRADE’s global offices assist Malaysian companies in areas such as facilitating business opportunities and fine-tuning their export strategies according to the requirements of the targeted market.
